The present invention relates to a new and distinct variety of Spiraea japonica that originated as a naturally occurring branch mutation discovered by the inventor on a plant of Spiraea japonica `Goldmound` (not patented) in a cultivated area of St.-Paul d'Abbotsford, Quebec, Canada. The first asexual reproduction of the new cultivar was by softwood cuttings taken by the inventor in St.-Paul d'Abbotsford, Quebec, Canada. `Golden Elf` was propagated by softwood cuttings and the best young plant selections were chosen for evaluation. This selection process was repeated twice more until a final selection was chosen. Thus, the hundred of plants obtained have shown that the unique features of this new Spiraea are stabilized and are reproduced true to type in successive propagations.